Nigeria’s stock market returned to the positive territory on Wednesday as the All Share Index (ASI) increased slightly by 0.15 percent at the close of trading session.

The value of listed stocks increased by N30billion as more investors mopped up value counters at low prices.

Amid a mixed trading session which ended up in the green, market watchers expect a similar trading pattern on Thursday with some investors cherry picking attractive stocks and others selling off for mild gains.

The Nigerian Exchange Limited (NGX) All Share Index and market capitalisation stood higher at
38,564.7 points and N20.099trillion respectively, from preceding day low of 38,507.29 points and N20.069trillion.

Related News

The market’s negative return year-to-date (YtD) stood lower at -4.24percent at the close of trading. In 4,387 deals, investors exchanged 302,722,917 units valued at
N2.809billion.

Cornerstone led the gainers table after its share price increased from 50kobo to 55kobo, up by 5kobo or 10percent.

It was followed by shares of that of Morison which moved up from N1.24 to N1.36, adding 12kobo or 9.68percenr and Learn Africa which increased from 92kobo to 98kobo, adding 6kobo or 6.52percent.

Banking stocks were actively traded on the Nigerian Exchange Limited led by Sterling Bank, ETI, Wema Bank, GTBank and Japaul Gold.

More from our Markets Column
Read Next
SEC warns Nigerians against investing in Ponzi schemes

Nigeria’s SEC takes over leadership of West Africa Securities Regulators Association

By Iheanyi Nwachukwu • June 16, 2021

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp